Understanding the nuances and applications of the CG-5542 form is essential for engaging with the U.S. Coast Guard's documentation processes. This form, officially known as the Optional Application for Filing, is a multifaceted document designed to record transactions related to maritime vessels under the Department of Homeland Security. Its primary functions include the registration or recording of various maritime transactions such as preferred mortgages, chattel mortgages, assumptions, assignments, amendments, and subordinations, among others. The form requires detailed information regarding the vessel, including its name and unique identifier, the type of transaction being recorded, and the particulars of the parties involved (grantors and grantees), along with the specifics of the interest owned or transferred. Additionally, accurate identification of the instrument being assumed, assigned, amended, or otherwise modified is necessary. Filling out this form accurately is crucial, as it involves certifications and attestations that the U.S. Coast Guard relies upon for indexing attached instruments. Moreover, it encapsulates the legalities surrounding maritime documentation within the framework provided by the 33 CFR (Code of Federal Regulations), ensuring compliance with privacy acts and regulatory requirements for maritime operations. The CG-5542 form, therefore, plays a pivotal role in the regulatory landscape of maritime transactions, providing a structured method for recording changes in ownership, lien statuses, and other significant details that affect maritime vessels and their operation.
| Question | Answer |
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| Form Name | Cg 5542 Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | USC, IES, cg 5542, MORTGAGOR |
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DEPARTMENT OF HOMELAND SECURITY |
OMB No: |
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U.S. Coast Guard |
Expires: 06/30/2016 |
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OPTIONAL APPLICATION FOR FILING |
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(SEE INSTRUCTIONS AND PRIVACY ACT ON REVERSE) |
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1. VESSEL NAME (ATTACH SCHEDULE IF MORE THAN ONE VESSEL) |
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2. OFFICIAL NUMBER OR OTHER UNIQUE |
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IDENTIFIER |
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3. INSTRUMENT TYPE (CHECK ALL THAT APPLY) |
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PREFERRED MORTGAGE |
ASSUMPTION |
ASSIGNMENT |
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CHATTEL MORTGAGE |
SUPPLEMENT |
OTHER (DESCRIBE) |
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AMENDMENT |
SUBORDINATION |
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4. |
NAME(S) AND ADDRESS(ES) OF GRANTOR(S) |
(MORTGAGOR(S), ASSIGNOR(S), ASSUMING PARTY(IES), OR OTHER(S) - SEE INSTRUCTIONS) |
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INTEREST OWNED IN VESSEL OR HELD IN MORTGAGE AFFECTED BY ATTACHED INSTRUMENT _______%. |
(100% UNLESS OTHERWISE STATED) |
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5. |
NAME(S) AND ADDRESS(ES) OF GRANTEE(S) |
(MORTGAGEE(S), ASSIGNEE(S), OR OTHER(S) |
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PERCENTAGE OF VESSEL MORTGAGED OR MORTGAGE ASSIGNED __________ %. |
(100% UNLESS OTHERWISE STATED) |
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6. |
AMOUNT |
7. IDENTIFICATION ON INSTRUMENT ASSUMED, ASSIGNED, AMENDED, SUPPLEMENTED, SUBORDINATED, OR |
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OTHERWISE MODIFIED: |
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RECORDED BOOK: |
PAGE: |
FILE/RECORDED DATE: |
TIME: |
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OTHER IDENTIFYING DATA: |
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8. CERTIFICATION AND ATTESTATION: I (WE) HEREBY CERTIFY THAT THE FACTS RECITED HEREIN ARE TRUE AND CORRECT. I (WE) UNDERSTAND THAT THE U.S. COAST GUARD WILL RELY ON THOSE RECITATIONS IN INDEXING THE ATTACHED INSTRUMENT.
SIGNATURE(S): (SEE INSTRUCTIONS) |
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FOR THE GRANTOR(S) |
FOR THE GRANTEE(S) |
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_________________________________________________________ |
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STATE: ___________
COUNTY: _________________________________
SUBSCRIBED AND SWORN BEFORE ME ON: ______________________________________
NOTARY PUBLIC: _____________________________________________________________
MY COMMISSION EXPIRES: ___________________________
(DATE)
WARNING: FALSE STATEMENT MAY RESULT IN FINE OR IMPRISONMENT PURSUANT TO TITLE 18 USC.
Previous Edition Obsolete |
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INSTRUCTIONS
1.
５１＃＃ＯＬＶＷ＃ＦＲＤＶＷ＃ＪＸＤＵＧ＃ＤＶＶＬＪＱＨＧ＃ＲＩＩＬＦＬＤＯ＃ＱＸＰＥＨＵ／＃ＰＤＱＸＩＤＦＷＸＵＨＵﾶＶ＃ＫＸＯＯ＃ＬＧＨＱＷＬＩＬＦＤＷＬＲＱ＃ＱＸＰＥＨＵ＃＋ＫＬＱ，＃ＤＶＶＬＪＱＨＧ＃ＬＱ＃
ACCORDANCE WITH RULES IN 33 CFR, OR OTHER UNIQUE IDENTIFIER, (STATE MOTORBOAT NUMBERS ARE NOT CONSIDERED UNIQUE IDENTIFIERS.)
3.
4.GRANTOR. FOR PURPOSES OF THIS FORM, GRANTORS INCLUDE MORTGAGORS, ASSIGNORS, PERSONS ASSUMING MORTGAGES, PERSONS GRANTING SUBORDINATION OF MORTGAGES. LIST ALL GRANTORS AND ADDRESSES. A SEPARATE SCHEDULE MAY BE ATTACHED IF MORE ROOM IS NEEDED.
5.GRANTEE. FOR PURPOSES OF THIS FORM, GRANTEES INCLUDE MORTGAGEES, ASSIGNEES, PERSON FROM WHOM MORTGAGES ARE ASSUMED, AND PERSON TO WHOM SUBORDINATION OF MORTGAGES ARE GRANTED. LIST ALL GRANTEES AND ADDRESSES. A SEPARATE SCHEDULE MAY BE ATTACHED IF MORE ROOM IS NEEDED.
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7.NOT USED FOR NEW CHATTEL OR PREFERRED MORTGAGES. MUST BE COMPLETED FOR ASSUMPTIONS, ASSIGNMENTS, AMENDMENTS, OR OTHER INSTRUMENTS MODIFYING CHATTEL OR PREFERRED MORTGAGE FILED PREVIOUSLY OR CONCURRENTLY.
8.REQUIRED SIGNATURES AND NOTARIZATION:
-CHATTEL OR PREFERRED MORTGAGES, AMENDMENTS, OR SUPPLEMENTS: GRANTOR AND GRANTEE OR PERSONS ACTING ON BEHALF OF THOSE ENTITIES.
-ASSUMPTION OF MORTGAGE: ASSUMING PARTY AS GRANTOR, ORIGINAL MORTGAGOR AND MORTGAGEE AS GRANTEES, OR PERSONS ACTING ON BEHALF OF THOSE ENTITIES.
-SUBORDINATION AGREEMENT OR ASSIGNMENT: GRANTOR OF SUBORDINATION AGREEMENT OR ASSIGNMENT, OR PERSON ACTING ON BEHALF OF THAT ENTITY.
PRIVACY ACT STATEMENT
IN ACCORDANCE WITH 5 U.S.C. 553a, THE FOLLOWING INFORMATION IS PROVIDED TO YOU WHEN SUPPLYING PERSONAL INFORMATION TO THE U.S. COAST GUARD.
1.AUTHORITY. SOLICITATION OF THIS INFORMATION IS AUTHORIZED BY 46 U.S.C., CHAPTERS 121 AND 125; 46 U.S.C. APP. 802 AND 883.
2.THE PRINCIPAL PURPOSES FOR WHICH THIS INFORMATION IS TO BE USED ARE:
(1)TO DETERMINE CITIZENSHIP OF THE OWNER OF THE VESSEL FOR WHICH APPLICATION FOR DOCUMENTATION IS MADE; AND
(2)TO DETERMINE ELIGIBILITY OF THE VESSEL TO BE DOCUMENTED WITH THE TRADE ENDORSEMENT SOUGHT.
3.THE ROUTINE USES WHICH MAY BE MADE OF THIS INFORMATION INCLUDE RELEASE TO LAW ENFORCEMENT OFFICIALS, TO THE GENERAL PUBLIC UNDER FREEDOM OF INFORMATION ACT, AND TO PUBLISH INFORMATION ABOUT U.S. DOCUMENTED VESSELS.
4.DISCLOSURE OF THE INFORMATION REQUESTED ON THIS FORM IS VOLUNTARY, HOWEVER, FAILURE TO PROVIDE THE INFORMATION REQUESTED WILL RESULT IN DENIAL OF THE APPLICATION FOR DOCUMENTATION, WHICH MAY PREVENT THE OWNER FROM OPERATING THE VESSEL(S) IN A SPECIFIED TRADE.
AN AGENCY MAY NOT CONDUCT OR SPONSOR, AND A PERSON IS NOT REQUIRED TO RESPOND TO A COLLECTION OF INFORMATION UNLESS IT DISPLAYS A VALID OMB CONTROL NUMBER.
THE COAST GUARD ESTIMATES THAT THE AVERAGE BURDEN FOR THIS FORM IS 10 MINUTES. YOU MAY SUBMIT ANY COMMENTS CONCERNING THE ACCURACY OF THIS BURDEN ESTIMATE OR MAKE SUGGESTIONS FOR REDUCING THE BURDEN TO: U.S. COAST GUARD, NATIONAL VESSEL DOCUMENTATION CENTER, 792 T J JACKSON DRIVE, FALLING WATERS, WEST VIRGINIA 25419 OR OFFICE OF MANAGEMENT AND BUDGET, PAPERWORK REDUCTION PROJECT
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